Improving and evaluating various models with vendor-managed inventory

Author

Liu, Jun ; Lu, Qiang ; Shi, Kun

Author_Institution

Dept. of Econ. & Manage., Harbin Inst. of Technol., Harbin

fYear

2008

fDate

21-24 Sept. 2008

Firstpage

1395

Lastpage

1400

Abstract

The practice of vendor-managed inventory (VMI) draws a high attention from both industrial and academic worlds. On the basis of previous studies, we introduce three parameters, namely the fixed and variable transportation cost, and the service cost per unit, to develop models for the following three scenarios by mainly employing the method used in Dong & Xu (Ref.13): (1) traditional supply chain without VMI, (2) the VMI mode without a Third Party Logistics (TPL) company, (3) the TPL-VMI mode with TPL participation. By analyzing scenarios 1 and 2, we obtain conclusions similar to those in Dong & Xu (Ref.13), though with different conditions. By analyzing scenarios 2 and 3, we find that it is possible to optimize the supply chain performance.

Keywords

costing; inventory management; service industries; supply chain management; transportation; TPL-VMI mode; service cost; supply chain performance; third party logistics company; transportation cost; vendor-managed inventory; Costs; Environmental economics; Inventory management; Logistics; Power generation economics; Pricing; Supply chain management; Supply chains; Technology management; Transportation; Cost Evaluation; Supply Chain Management (SCM); Third Party Logistics (TPL); Vendor-managed Inventory (VMI);

fLanguage

English

Publisher

ieee

Conference_Titel

Management of Innovation and Technology, 2008. ICMIT 2008. 4th IEEE International Conference on

Conference_Location

Bangkok

Print_ISBN

978-1-4244-2329-3

Electronic_ISBN

978-1-4244-2330-9

Type

conf

DOI

10.1109/ICMIT.2008.4654575

Filename

4654575